MIRA
INFORM REPORT
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Report Date : |
29.06.2012 |
IDENTIFICATION DETAILS
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Name : |
ZHONGSHAN TRANSTEK ELECTRONICS CO., LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
18.07.2002 |
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Com. Reg. No.: |
442000000123096 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Producing and selling medical devices and other electronic products. |
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No. of Employees : |
800 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
ZHONGSHAN TRANSTEK
ELECTRONICS CO., LTD.
JIN’AN ROAD, JINBIAO VILLAGE, MINZHONG TOWN,
ZHONGSHAN,
GUANGDONG PROVINCE, 528451 PR CHINA
TEL: 86
(0) 760-88280980 FAX: 86
(0) 760-85339231/85572377
EXECUTIVE SUMMARY
INCORPORATION DATE :
JUL. 18, 2002
REGISTRATION NO. :
442000000123096
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. OU GAOLIANG (CHAIRMAN)
STAFF STRENGTH :
800
REGISTERED CAPITAL : CNY 21,000,000
BUSINESS LINE :
MANUFACTURING
TURNOVER :
CNY 87,660,000 (AS OF DEC. 31,
2008)
EQUITIES :
CNY 830,000 (AS OF DEC. 31, 2008)
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.3654 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY - China Yuan Renminbi
SC was registered as a limited liabilities co. at local Administration for Industry
& Commerce (AIC - The official body of issuing and renewing business
license) on Jul. 18, 2002.
Company Status:
Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders contribute its registered
capital jointly. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their
capital contributions in cash or by means of tangible assets or intangible
assets such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes producing and selling ordinary examination
equipment, medical electronic equipment, household electronic weighing
instruments and accessories, electronic plastic products; importing
and exporting commodities and technologies.
SC is mainly
engaged in producing and selling medical devices and other electronic products.
Mr. Ou
Gaoliang is legal representative and
chairman of SC at present.
SC is known to have approx. 800 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Zhongshan.
Our checks reveal that SC rents the total premise, but SC’s accountant refused
to release the gross area of the premise.
http://www.transtek.cn/
The design is professional and the content is well organized. At present it is
in English version.
E-Mail: info@transtek.cn
As of the end of 2008, SC’s paid-in capital is CNY 500,000.
SC has passed IS09001:2000 and ISO13485 certification. Its products are
also certified by SGS, CE, ROHS, FDA and FCC to maintain a high standard of
quality assurance and safety.
SC was awarded “A-Class Taxpayer”, “High-tech Enterprises”, etc.
Changes
of its registered information:
|
Date of change |
Item |
Before the change |
After the change |
|
Unknown |
Registered capital |
CNY 500,000 |
Present amount |
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Legal representative |
Pan Weichao |
Present one |
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Shareholders |
Pan Weichao85% Sha Huahai5% |
Present ones |
MAIN SHAREHOLDERS:
Name %
of Shareholding
Zhongshan Huikang Equity Investment
Partnership 7
(Limited Partnership) (in Chinese pinyin)
Zhongshan Xierun Equity Investment
Partnership 6
(Limited Partnership) (in Chinese pinyin)
Mai Jiongzhang 10.44
Pan Weichao 66.12
Ou Gaoliang 4.35
Sha Huahai 6.09
l
Legal representative and chairman:
Mr. Ou Gaoliang is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as chairman and legal representative.
l
General manager:
Working Experience(s):
At present Working
in SC as general manager.
l
Supervisor:
Sha Huahai
SC is mainly
engaged in producing and selling medical devices and other electronic products.
SC’s products mainly include: blood pressure monitor, wireless wellness
system, well-being, electronic scale, etc.
SC sources its materials 90% from domestic market and 10% from the
overseas market. SC sells 90% of its products to overseas market and 10% in domestic market.
The buying terms of SC include Check, L/C, T/T and Credit of 30-60 days.
The payment terms of SC include Check, T/T, L/C, and Credit of 30-60 days.
*Major Supplier
=============
Dongguan South China Sea Electronic Co., Ltd.
SC
is not known to have any subsidiary at present.
Overall payment appraisal:
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3 weighed
factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment and our
debt collection record concerning SC.
Trade payment experience: SC’s suppliers
declined to make any comments.
Delinquent
payment record: None in our database.
Debt collection record: No overdue amount owed by SC was placed to us for
collection within the last 6 years.
Industrial &
Commercial Bank of China Zhongshan Sub-branch
AC#2011028909024529390
Relationship:
Normal.
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2008 |
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Cash & bank |
5,090 |
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Bills receivable |
0 |
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Accounts
receivable |
11,710 |
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Other
receivables |
2,090 |
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Advances to suppliers |
230 |
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Inventory |
8,790 |
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Prepaid expenses |
40 |
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Other current
assets |
0 |
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------------------ |
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Current assets |
27,950 |
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Fixed assets net
value |
1,920 |
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Projects under
construction |
100 |
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Long term
investment |
0 |
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Other assets |
180 |
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------------------ |
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Total assets |
30,150 |
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============= |
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Short loans |
8,000 |
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Bills payable |
0 |
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Accounts payable |
19,820 |
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Advances from
clients |
30 |
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Accrued payroll |
1,020 |
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Tax payable |
250 |
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Other payable |
150 |
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Surcharge
payable |
10 |
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Other current
liabilities |
40 |
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------------------ |
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Current
liabilities |
29,320 |
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Long term
liabilities |
0 |
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------------------ |
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Total
liabilities |
29,320 |
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Equities |
830 |
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------------------ |
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Total liabilities
& equities |
30,150 |
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============= |
Income Statement
Unit: CNY’000
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as of Dec. 31,
2008 |
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Turnover |
87,660 |
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Cost of goods
sold |
79,390 |
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Sales expense |
2,130 |
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Management expense |
4,880 |
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Finance expense |
580 |
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Profit before
tax |
600 |
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Less: profit tax |
260 |
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Profits |
340 |
Note: SC’s latest financial reports can not be
found in local AIC.
Important Ratios
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as
of Dec. 31, 2008 |
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*Current ratio |
0.95 |
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*Quick ratio |
0.65 |
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*Liabilities
to assets |
0.97 |
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*Net profit
margin (%) |
0.39 |
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*Return on
total assets (%) |
1.13 |
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*Inventory
/Turnover ×365 |
37 days |
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*Accounts
receivable/Turnover ×365 |
49 days |
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*Turnover/Total
assets |
2.91 |
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* Cost of
goods sold/Turnover |
0.91 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is average.
l
SC’s return on total assets is average.
l
SC’s cost of goods sold is fairly high, comparing
with its turnover.
LIQUIDITY: FAIR
l
The current ratio of SC is maintained in a fair
level.
l
SC’s quick ratio is maintained in a fair level.
l
The inventory
of SC appears average.
l
The accounts receivable of SC appears fairly large.
l
SC’s short-term loan is in an average level in
2008.
l
SC’s turnover is in a fairly good level, comparing
with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.92 |
|
|
1 |
Rs.88.91 |
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Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.